ON THE BLOCK / Postings from The Chronicle's Real Estate blog (sfgate.com/ZGBR)

Published 4:00 am, Saturday, April 11, 2009

Cubix, a condominium project designed by Hauser Architects in San Francisco's Soma district is forging new ground in San Francisco's still stratospheric real estate market : minscule apartments at affordable prices so that young singles who live and work in the popular neighborhood can also own a small piece of the real estate pie. less

Cubix, a condominium project designed by Hauser Architects in San Francisco's Soma district is forging new ground in San Francisco's still stratospheric real estate market : minscule apartments at affordable ... more

ON THE BLOCK / Postings from The Chronicle's Real Estate blog (sfgate.com/ZGBR)

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East Bay homes under $300,000

In Oakland, the world's your oyster if you have $300,000 to spend. There are literally hundreds of properties for sale in that price bracket, starting at $50,000 for a one-bedroom home on 18th Street.

Here are two new listings that allow for comparison shopping. First up is 3090 Glascock St., a contemporary two-bedroom, two-bath 1,023-square-foot condo near the Fruitvale BART Station with high ceilings and upgraded kitchen. Price: $285,000 ($279 per square foot).

Then there's 4471 Tulip Ave., a two-bedroom, one-bath 1,310-square-foot house on a big corner lot with two fireplaces and a large basement. Price: $289,900 ($221 per square foot). It sold in 2005 for $550,000.

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In Berkeley, you don't have to spend $300,000 to get a house on a good site at 1078 Keith Ave. But be aware this is not a house to actually live in. It's condemned, so the $264,900 price tag is essentially buying you a leafy lot in a good neighborhood. The lot is 3,872 square feet and the average price per square foot in this area is $479.

Finally, in El Cerrito, a two-bedroom, two-bath home at 1751 Liberty St. that sold in 2004 for $320,000 is now in foreclosure and for sale at $211,900 ($227 per square foot). - Tracey Taylor

Condo bargains in San Francisco

Most San Francisco properties listed for less than $200,000 are tear-downs in semi-sketchy neighborhoods - they're rarely in move-in condition. But buyers who can spend $230,000 to $260,000 could get a livable little home. Small may be the operative word, though, because these places are tiny.

Some of the cheapest finds we spotted in SoMa, where condos grow on trees, are $225,000 to $259,000. Assuming a buyer put down 15 to 20 percent, and secured a 5 percent mortgage, monthly payments could range between $1,100 and $1,500.

Among the handful of sub-$300,000 listings we found were a couple at Cubix, the notoriously tiny condo development at 766 Harrison St., where the units are 250 to 350 square feet and are listed for $225,000 and $259,000. Other properties in the same price range, however, are modestly larger - but none is perfect. Take, for example, a Ninth Street unit listed for $256,000. The place spans 600 square feet, nearly twice the size of the Cubix units. It is a TIC, though, which might cramp some buyers' style.

Another unit on South Van Ness Avenue is 575 square feet, listed for $254,000, but the listing suspiciously doesn't include any interior photos. Also, it's a fair housing opportunity, which means there are income caps for buyers and resale restrictions on the property.